INVESTMENT interests in Mindanao by Japanese investors swelled following the successful Philippine-Japan Business Forum on Friday, January 13 at the Waterfront-Insular Hotel, one of the key events during Japan Prime Minister Shinzu Abe's visit in Davao City.
Majority of the Japanese investors showed an upbeat outlook of pouring more investments in the country particularly in Mindanao.
Tsutomu Yamamoto, general manager and country head of Mizuho Bank, Ltd., said in an interview with VoxPop Davao at the sidelines of the business forum that bright prospects await in the island region, especially Davao City.
During the forum, Department of Trade and Industry (DTI), Mindanao Development Authority, Philippine Economic Zone Authority and the Davao City Government presented before the Japanese investors why investing in the Philippines is worth banking on.
"I did not know much about Davao, all the presentations (during the forum) is very comprehensive. I am impressed that Davao City has various access to many cities and can be a strategic point in BIMP-Eaga, it is much more global than I expected, with that I see more investments will come in Davao and Mindanao," he said.
He added that with the pronouncement and strong commitment of the Duterte administration that the Philippines is open for foreign investments, opportunities will be grow by leaps and bounds.
Yamamoto also shared that the visit of their Prime Minister is but unusual and a strong signal that Japan's and Philippines' economic, historical and social ties is entering into a new level of bilateral relationship.
"At present, we don't have a big presence in Mindanao, but definitely Davao City is our future hub," Yamamoto said.
Chodai Co., Ltd. Head of Manila Representative Office, Satoshi Kato said in a separate interview that as Mindanao possesses business potentials, the consultant and service provider company will look at the island region as the next target of expansion. Chodai is currently operating in Caraga Region.
"Philippines as a whole has many potentials, like its increasing population, stable and continuous economic growth. Japan needs to have business opportunities in countries like the Philippines," Kato said.
Kiyoshi Wakamiya, advisor of Tokushukai General Incorporated Association echoed the sentiments of his fellow Japanese investors that Mindanao's economy under the new administration can go beyond expected.
"Excellent, we very much appreciate the Duterte's leadership, very strong, and its shows that our Prime Minister likes him, a lot," Wakamiya said.
For the part of the Davao business community, Davao City Chamber of Commerce, Inc. president Ronald Go said better things are yet to come in Mindanao.
"With the Global-7 leader finally visiting Davao, we are excited with the prospects for more business opportunities here. He shows not only the people of Japan that he is confident in this area, but the rest of the world as well," Go said.
On Thursday, January 12, Abe landed in the country with a vow to grant Duterte administration some 1 trillion yen in aid and investments thru official development assistance (ODA) over the next five years.
President Duterte, in his recent visit in China, also got $9 billion in soft loans, part of $13.5 billion in signed deals.
"As far as I can remember it is a record-breaking ODA level from two countries (Japan and China) in a matter of three months. It is a good implication that there is this very strong support of this admin on all our development efforts," DTI secretary Lopez said.
Japan continues to be the top trading partner of the Philippines. It is also the second largest foreign direct investor of the country, following United States, with net investment more than doubling to $394.91 billion in 2015, according to Bangko Sentral ng Pilipinas.
